"On-board magnetic sensor market estimated to grow at a CAGR of 8.4% between 2018 and 2023"

The overall on-board magnetic sensor market is estimated to be worth USD 1.26 billion in 2018 and expected to reach USD 1.89 billion by 2023, growing at a CAGR of 8.4% between 2018 and 2023. The key factors contributing to the growth of the on-board magnetic sensor market are continuous growth in the use of on-board magnetic sensors for consumer electronics applications and role of on-board magnetic sensors in navigation. However, the inconsistent magnetic field is the key restraints for the growth of the on-board magnetic sensor market. The scope for on-board magnetic sensors in the hybrid and electric vehicles market is the major opportunity for the studied market.

For most of the consumer electronics and automotive applications, a Hall effect sensor is one of the most apparent choices owing to its noncontacting feature, durability, and robustness to dirt and other environmental contaminants. Thus, Hall effect sensors are expected to hold the leading position in the on-board magnetic sensor market between 2018 and 2023.

APAC is expected to be the fastest-growing market. The on-board magnetic sensor market in APAC is divided into India, China, Japan, South Korea, and Rest of APAC. This growth is mainly due to the increasing demand for Hall effect sensors for industrial automation applications in automotive and consumer electronics industries in emerging economies such as China and India. In addition, continuous technological advancements and connectivity of Hall effect sensors with IoT would drive the market growth in APAC during the forecast period.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts. The breakup of the profiles of primary participants has been given below:

By Company Type: Tier 1-45%, Tier 2-30%, and Tier 3-25%

By Designation: Managers-60% and C-Level Executives-40%

By Region: Americas-45%, Europe-35%, APAC-15%, and RoW-5%

The key market players profiled in this report are as follows:

Asahi Kasei Microdevices (Japan)

Sanken Electric (Allegro Subsidiary) (Japan)

Infineon Technologies (Germany)

TDK Corporation (Japan)

Melexis NV (Belgium)

Murata Manufacturing (Japan)

Honeywell International (US)

TE Connectivity (Switzerland)

AMS (Austria)

NXP Semiconductors N.V. (Netherlands)

Research Coverage:

The report on the on-board magnetic sensor market covers the market segmented on the basis of the following segments: type, vertical, magnetic density, and geography. The market has been segmented on the basis of type into Hall effect sensors, magnetoresistive sensors, SQUID sensors, and others. Based on vertical, the on-board magnetic sensor market has been classified into automotive, consumer electronics, healthcare, aerospace & defense, industrial, and others. The market, on the basis of magnetic density, has been segmented into <1 microgauss, 1 microgauss to 10 gauss, and >10 gauss.

Key Benefits of Buying the Report:

Illustrative segmentation, analysis, and forecast for the market on the basis of type, vertical, magnetic density, and geography have been conducted to give the overall view of the on-board magnetic sensor market.

The value chain analysis is provided to provide an in-depth insight into the on-board magnetic sensor market.

Major drivers, restraints, opportunities, and challenges for the on-board magnetic sensor market have been detailed in this report.

The report includes a detailed competitive landscape and revenue of the key players.